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if a customer requires a product with a short life cycle he/she may demand less of tht product
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∙ 11y ago
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What is perishable goods?
It means it wont out date.
Supply increases and demand is constant?
if there is an increase in supply ,there is a corresponding increase in demand. perishable goods such as fresh tomatoes may increase in supply because there are in season.THIS IS ONE OF THE EXCEPTION TO THE RULE
Describe three determinants of demand elasticity?
These three determinants are listed here: nature of commodity -the more perishable a good,lower will its elasticity of demand,middle income groups have highly elastic demand ,goods having alternative uses have elastic demand,for eg.milk
Income elasticity of demand?
The Income Elasticity of Demand is used to measure how an increase or decrease in the income of consumers affects the demand for a particular product. This relationship varies depending on the type of goods.
What determines the quantity of a good that sellers supply?
The demand of the consumer determines the quantity of goods a seller supplies. Supply and demand also affects market price.
How do you use perishable goods in a sentence?
These perishable goods go in the refrigerator.
What is perishable goods?
It means it wont out date.
Supply increases and demand is constant?
if there is an increase in supply ,there is a corresponding increase in demand. perishable goods such as fresh tomatoes may increase in supply because there are in season.THIS IS ONE OF THE EXCEPTION TO THE RULE
What is overstocking of perishable goods?
hoarding
Describe three determinants of demand elasticity?
These three determinants are listed here: nature of commodity -the more perishable a good,lower will its elasticity of demand,middle income groups have highly elastic demand ,goods having alternative uses have elastic demand,for eg.milk
How population affects demand?
Population directly affects demand by influencing the number of people who require goods and services. A larger population typically translates to higher demand, as more individuals need products for their daily lives. On the other hand, a smaller population may lead to lower demand for certain items.
Are flowers perishable?
Yes, perishable goods are those that go bad after a short time when harvested.
What is nondurable goods?
Non durable goods means perishable goods like tomatoes...etc
Income elasticity of demand?
The Income Elasticity of Demand is used to measure how an increase or decrease in the income of consumers affects the demand for a particular product. This relationship varies depending on the type of goods.
What determines the quantity of a good that sellers supply?
The demand of the consumer determines the quantity of goods a seller supplies. Supply and demand also affects market price.
Why do you need aircraft to carry perishable goods?
It isn't absolutely necessary to use an aircraft for carrying perishable goods, but it is convenient because, since planes are faster than vehicles and ships, they can get the goods to a retailer faster.
Price elasticity of demand for luxury goods will be?
elastic becoz wen price of the commodity changes , it affects the demand for the commodity .. Demand for a product is sensitive to price changes .. With icrease in price , the demand decreases nd with decrease in price , demand increases ..
